https://www.taxtmi.com/caselaws?id=342930 The Tribunal set aside the original authority's decision confirming interest and penalty on irregularly availed credit, remanding the case for verification of the appellant's balance during credit reversal. The appellant's liability for interest and penalty hinges on having a sufficient balance at that time, as per relevant judgments. This emphasizes the importance of factual verification in tax matters and aligns with established legal precedents. The decision underscores the necessity of adhering to legal principles and precedents in determining tax liabilities. en-us Tue, 28 Mar 2017 00:00:00 +0530 Mon, 15 May 2017 05:46:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342930 The Tribunal set aside the original authority's decision confirming interest and penalty on irregularly availed credit, remanding the case for verification of the appellant's balance during credit reversal. The appellant's liability for interest and penalty hinges on having a sufficient balance at that time, as per relevant judgments. This emphasizes the importance of factual verification in tax matters and aligns with established legal precedents. The decision underscores the necessity of adhering to legal principles and precedents in determining tax liabilities. Case-Laws Central Excise Tue, 28 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342930